Emergen Research has recently published a detailed report on the global Virtual Reality in Medical market formulated through extensive primary and secondary research. The report offers in-depth knowledge and analysis of the Virtual Reality in Medical market through verified and validated data curated to offer accurate insights. The report also offers a region wise and country wise analysis of the Virtual Reality in Medical market and contains a detailed analysis of the key elements influencing the growth of the market in the region. The research study also contains historical, current, and forecast estimations for each sector, segment, sub-segment, and regions.
The global Virtual Reality (VR) in medical market size is expected to reach USD 3,975.0 Million at a revenue CAGR of 31.1% in 2028, according to latest analysis by Emergen Research. Global Virtual Reality (VR) in medical market revenue growth can be attributed to increasing use of VR in treatment and therapies of patients with various conditions. VR systems are deployed by medical professionals to deliver more effective and efficient services to patients in a more personalized manner. VR systems are considered beneficial in saving considerable healthcare-related expenses, enhancing patient care, and improving service quality of bottom line care givers. Dissimilar to videos or various other two-dimensional media that are non-interactive, VR can simulate and provide sense of existence for individual patients in a comfortable and convenient setting. VR also offers significant advantages in patient assessment processes by delivering visual aids for enabling patient to be in proper position to enhance disease symptom assessment and management. VR devices are used for rapid capture of critical healthcare information, thus easing any interventions occurring before conduction of medical procedures.
Recent years have seen rapid developments in the information and communication technology sector, with the industry projected to grow substantially in revenue over the next five years. ICT industry technology advancements, increasing adoption of advanced and latest devices, an increasing number of consumers using these devices, and high internet penetration worldwide are expected to drive global market revenue growth throughout the forecast period. The global market is expected to grow as a result of factors such as a growing risk of data leakage, an increasing use of advanced technologies like artificial intelligence (AI), the Internet of Things, and cloud services to manage large amounts of data, as well as a growing investment in research and development activities for developing advanced devices and solutions.
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The report further sheds light on the competitive landscape of the Virtual Reality in Medical market to offer the readers an advantage over others. The competitive landscape section of the report talks about the recent advancements in the RD and technologies undertaken by the prominent players, along with their strategic business expansion plans, product launches, and brand promotions. The report pays special attention to the strategic alliances such as mergers and acquisitions, joint ventures, collaborations, agreements, corporate and government deals, and others adopted by the prominent players of the industry to expand their market presence and gain a substantial market position.
Key market aspects studied in the report:
Market Scope: The report explains the scope of various commercial possibilities in the global Virtual Reality in Medical market over the upcoming years. The estimated revenue build-up over the forecast years has been included in the report. The report analyzes the key market segments and sub-segments and provides deep insights into the market to assist readers with the formulation of lucrative strategies for business expansion.
Competitive Outlook: The leading companies operating in the Virtual Reality in Medical market have been enumerated in this report. This section of the report lays emphasis on the geographical reach and production facilities of these companies. To get ahead of their rivals, the leading players are focusing more on offering products at competitive prices, according to our analysts.
Report Objective: The primary objective of this report is to provide the manufacturers, distributors, suppliers, and buyers engaged in this sector with access to a deeper and improved understanding of the global Virtual Reality in Medical market.
Competitive Terrain:
The global Virtual Reality in Medical industry is highly consolidated owing to the presence of renowned companies operating across several international and local segments of the market. These players dominate the industry in terms of their strong geographical reach and a large number of production facilities. The companies are intensely competitive against one another and excel in their individual technological capabilities, as well as product development, innovation, and product pricing strategies.
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Major Geographies Analyzed in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Market Segmentations of the Virtual Reality in Medical Market
This market is segmented based on Types, Applications, and Regions. The growth of each segment provides accurate forecasts related to production and sales by Types and Applications, in terms of volume and value for the forecast period. This analysis can help readers looking to expand their business by targeting emerging and niche markets. Market share data is given on both global and regional levels. Regions covered in the report are North America, Europe, Asia Pacific, Latin America, and Middle East Africa. Research analysts assess the market positions of the leading competitors and provide competitive analysis for each company. For this study, this report segments the global Virtual Reality in Medical market on the basis of product, application, and region:
Segments Covered in this report are:
Component Outlook (Revenue, USD Million; 2018–2028)
- Hardware
- Software
- Services
Technology Outlook (Revenue, USD Million; 2018–2028)
- Head-Mounted Technology
- Gesture Tracking Technology
- Projector Display Walls Technology
End-Use Outlook (Revenue, USD Million; 2018–2028)
- Hospitals
- Clinics
- Research Institutes
- Others
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Leading manufacturers profiled in the report:
Microsoft Corporation, Koninklijke Philips NV, Firsthand Technology Inc., Orca Health Inc., General Electric, Alphabet Inc., AppliedVR Inc., SyncThink Inc., Osso VR Inc., and EchoPixel Inc
Additional information offered by the report:
- Along with a complete overview of the global Virtual Reality in Medical market, the report provides detailed scrutiny of the diverse market trends observed on both regional and global levels.
- The report elaborates on the global Virtual Reality in Medical market size and share governed by the major geographies.
- It performs a precise market growth forecast analysis, cost analysis, and a study of the micro- and macro-economic indicators.
- It further presents a detailed description of the company profiles of the key market contenders.
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